The site has an area of around 1,333 sq ft. located at 2 Hillview Road with a price range approximately S$9.5 million to S$10 million, translating to a plot ratio about S$1,116 to S$1,145 per sq ft.
In the Master Plan, the site is zone to “Reserve Site” and consider to rezoning by Urban Redevelopment Authority (URA) for commercial use with a plot ratio of 1.2 in maximum. With a total GFA of 17,218 sq ft, it may be rebuilt into a 2-storey commercial project.
Property firm expects the site to draw from local and foreign investors who are intensely seeking to buy a freehold commercial plot with good location, which will provide strong capital appreciation and rental income stream over the medium term.
The site is located close to newest residential development offered by Singapore Property, which is Kingsford Hillview Peak at Hillview Rise. The tender for 2 Hillview Road site will end on 15 July.